Budget will be aligned with BJP's thrust on GYAN strategy; capex growth pace may slow slightly in FY25: Sonal Varma, Nomura
Sonal Varma believes the government will meet its fiscal deficit targets for FY24 and FY25 through offsetting factors and a slight slowdown in capex growth. For FY24, higher direct tax collections and dividends have been positive, while lower indirect tax collections and disinvestment proceeds have been negative. In FY25, Varma expects the government to set a deficit target of 5.3% of GDP based on assumptions of nominal growth and a slowdown in capex growth.
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